Gutted Historic house on Upper King St. - Blank Canvas

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30795479
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Street Retail, Other
Status: Pending/Contingent
Building Size (RSF): 2,694 SF
Gross Land Area: 4,360 SF
Sale Price: $1
Unit Price: $0 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Building Name: 640 King St.
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/22/2022

Overview / Comments

CALL FOR OFFER/S. (New deadline; 5PM; Tuesday, 4/19) Historic building in thriving upper-King St. area of downtown Charleston is currently gutted with water and power and awaiting re-incarnation. Property zoned General Business within Accommodations Overlay. Conceptual plans included as "mixed use" (with office, residence and workshop) or restaurant use (with 136 seats as conceived) (see attachments). Deadline for offer/s is NEW deadline; 5PM; Tuesday, 4/19/22

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 51 - Peninsula Chas. inside of crosstown
Tax ID/APN: 460-04-04-028
Zoning: GB - General Business
Retail Clientele: General, Business, Tourist, Other
Property Located Between: On King, between Line St. & Hwy. 17-overpass
Property Visibility: Excellent
Feet of Frontage: 29
Site Description: Level, interior, rectangular lot with approximately 39' frontage on King St. and +/- 110' deep. Existing, historic structure is gutted to the studs with water service and temporary power service. No curb cut present at street. Adjacent to highway overpass.
Area Description: Close to and on same street as Charleston's center for bars and restaurants (Upper King St.), steps from multiple new apartment developments with more planned and under construction now & between four thriving residential areas: East Side, West Side, North Central and Cannonborough/Elliotborough (home to most of Charleston's nightly Short Term Rentals).
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1852
Construction/Siding: Wood Frame
Exterior Description: Historic wood siding currently clad in asbestos shingles
Parking Description: No curb cut currently exists.
Sprinklers: None
Interior Description: gutted with temporary water and power services
Zoning Description: Zoned General Business, in Accommodations Overlay
Lot Frontage: 39
Lot Depth: 110
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Eq Squared, LLC
Legal Description: 640 King St.; TMS # 460-04-04-028

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 22,029 57,959 141,777
Median Age: 28.84 34.25 36.26
Households: 8,888 24,545 59,289

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